Why This Firm? (Examples for Goldman Sachs and RBC)
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- เผยแพร่เมื่อ 24 มิ.ย. 2024
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There are two questions you're going to get in every single interview: 1) Tell me about yourself and 2) Why do you want to work at this firm? In this video, we're going to explain how to construct a high quality answer to explain why you want to work at a firm. We'll go over examples for Goldman Sachs and RBC. This answer can be make or break, because it will communicate how well you speak and how well you know the firm.
** Full Blog Post: www.peakframeworks.com/post/w...
0:00 - Intro
0:54 - How to Answer "Why This Firm?"
2:30 - Coming up with a Good Answer
4:11 - Why Goldman TMT?
5:58 - Why RBC M&A?
7:08 - How to Research Firms
Peak Frameworks is a business career prep service started by Matt Ting and Patrick Fong, who have each spent several years working in investment banking and private equity in New York and Silicon Valley. Matt and Patrick met at Evercore, a top tier investment bank, and over the years have tutored and coached dozens of candidates to land their dream business job.
Matt Ting: / matthewting
Patrick Fong (HBS 2021): / patrick-fong-0b773041
#InvestmentBanking #PrivateEquity #Careers
This is a heck of a channel ... well done. One of the best on IB/finance.
Really enjoy your content. I work as a PE fund accountant for a fund admin group and its great to have a channel to watch that helps me continue to learn more about PE and better serve my clients!
Matt you have the best channel in this regard, thanks for all the content !! (In process of recruiting and find your channel very helpful !!)
Thank You Brother
I really want your channel to grow because you upload amazing unbiased content and you look pretty good guy too
Nice. I have an interview with GS and RBC!
Great content man. Keep it up!
Hi Matt, can't thank you enough for your uploads and dialogues regarding IB & PE. Landed a IBD SA role for next summer and your content played a great role in my process. Looking forward to more awesome content. Have been a viewer for a while, but finally hit that subscribe button :)
Let's go!!!! Congrats Gary, remember to pay it forward!
i dont understand how this channel isnt getting more views and subscribers. Dude's a goat
Nice! Very Informative!
It might seem that this question is asked to test whether the candidate had done their research on the firm but what they're after is testing your motivation... Banking will get tough at some point, they want to make sure you're really the person for the job, who will stick through good and bad times
I’m loving your content
Great taste in music on your wall. Also, great video!
Thanks for another great video!
I'm not in finance but I still found this video helpful 😊👍
Another great video! Personally I feel the most convincing way to answer culture is to talk abt networking experience. Also as an international student, another key Q is why this firm’s US/UK/XX office, maybe you could do a topic on that? I also wanna cover this topic in my videos but curious abt how you think!
A-M-A-Z-I-N-G video
Thank you so much
by the way as to my mentor comment. I walked into that firm cold. I did my internet search research and that was it. It was a blind apply off of the popular professional social media. Cold applying still works and no networking does. I just knew how to sell myself on my resume and the interviews.
Not to sound like a girlie teenager but OMG!!!! I found you TH-cam channel just a couple minutes ago and I'm sold! You're the youtube channel I've wanted to find for months! I'm a sixteen year old kid from Stockholm with huge ambitions and you're everything I've looked for! Thank you!
Wow thank you!!! Work hard and achieve those dreams!
I’m in the same boat as Melker. This channel is the most informative and relavent information for a 17-year-old kid from Canada. Thanks for the amazing videos!
This guy is goated literally helped me land rbc soph 🙏🏾
Let's go!!!
great job!
Awesome Content
Thank you.
Hey Matt, first of all, your content is amazing, thank you for sharing your knowledge!
I have a question for you: I am a 27 years old that is just about to finish my bachelor degree in Architecture, in the best university in Brazil. I’m deeply interested in finance and accounting, but have no experience working with it. My question is: can I become an IB analyst with no previous experience? What path should i follow, to enter into the financial markets world? Any advices?
Thanks!
Architecture seems a bit far off. If you haven't ever met someone who switched from architecture into IB in Brazil, then I would think about taking alternate paths. Maybe you can do a 1 years finance masters at the best university at Brazil?
Been talking to a lot of people from Goldman London recently, even though I'll be applying for jobs there after 1 year.
I've already learnt a lot from them, in addition to my own research. I'm sure it'll be a huge advantage down the line. Your videos will prep me for everything else too.
Thanks for the great video and tips!
this seems like a lot more M&A and Capital Markets based than anything.
honestly, you need a mentor to audit your own answers. If I didn't have my mentor (former BB MD) guide me I wouldn't be where I am now. (went from small, niche buy-side firm to top 10 banks globally based on tier 1 capital working in a global leader for the same niche i started in).
Hey Matt, I subscribed after watching your amazing content, thank you so much for this information! I have a question: I am a freshman at San Diego state university for business finance and plan on getting great grades. Do you have any tips for me? Are there even any investment banks in San Diego? I want to do exactly what you did, 2 years of IB then move into PE. Thank you so much Matt!!!!!
Probably have to go to Bay Area for traditional investment banks. I would join the biggest investment clubs at your school and network with people who have banking jobs. Try to get study notes / exams from past years so you can do well in class.
This guy has def hit up Eazy on a friday
Lmao
Hey Matt, great videos. I am currently studying Electrical Engineering and I have been wondering if it is possible and how high the chances are to start a career in IB.
Engineering fits well into finance. You just have to have enough finance stuff on your resume to get interviews. Join finance clubs, get finance internships, etc. Definitely possible.
Hey Matt, I recently stumbled upon your channel and came away super impressed with the concise and informative nature of your videos. I have also realized that your channel has been growing very fast... is there any TH-cam growth courses you follow? If so, could you care to share it (my own YT channel is on Personal Finance & Investing which is admittedly quite saturated).
Nope no courses. I would say the biggest thing I noticed is that getting to 1k subscribers is pretty hard. You have to find the channels / communities that actually like your content and will share it to their friends. For me, this was FB groups and Reddit. Then just post often and I think TH-cam's algorithm will start to kick in. If you're struggling to get to 1k, I think you should re-think your messaging, content, and whether you're targeting the right audience.
@@PeakFrameworks Really appreciate the suggestion of FB groups and Reddit. I will definitely start doing research on trending topics within those platforms. Appreciate it Matt... thanks for your time!
Hey! I'm an Engineer trying to go into finance. I'm considering a MFE or an MBA. Which one would you say provides more value? Thanks!
I'd say MBA. More consistent placements and more established relationships with firms.
@@PeakFrameworks Thank you man.
Hi!! I really enjoy your videos - I wanted to ask for your opinion, when and why should one complete the CFA?
I don't advocate for the CFA. I wouldn't get it unless my employer or if regulations required it. It really doesn't seem like a worthwhile use of time to me.
Do you know how many internships I should have before I start applying for summer IB analyst internships? Or is there no specific requirements?
I would try to have one solid finance internship before applying to IB positions. Try to get something for your sophomore summer. Some IB recruiting is so accelerated these processes might happen concurrently though.
Peak Frameworks Do you think it’s a dealbreaker if my first internship wasn’t a solid finance internship?
@@PeakFrameworks If I want to break into IB and I am in my 1st year at uni studying a 3 year BSc in Econ at a non-target school without success in finding a job. Do you think I should finish my bachelor a year early and go do a finance master at a target school? They'll help me with internship and other work experience I think. My education is free and I'll have 3.5 GPA at least.
Quick question: I’m currently working as a Financial Analyst in the commercial real estate industry. I’ve been out of college for about a year now, and I’m worried I may never be able to break into investment banking. Do you believe it’s too late to get into investment banking at this point? I’m 23 years old. Most investment banking analyst get hired right out of college so I’m just unsure if I’ve missed my opportunity.
Thanks!
It's tough - are you working at a firm where you could potentially lateral (e.g. Brookfield or Blackrock)? Otherwise you'll probably have to make a few moves. Like potentially going to a real estate advisory support role at an investment bank or boutique advisor. If I were you, I would diligently try to network and make moves. It might make two moves to break in.
Also really depends what college you went to. If you went to a super non-finance school you'll most likely need another degree.
@@PeakFrameworks thanks for the response man. I just found your page and really enjoy the content!
Hey I’m 16 and was wondering what extracurriculars you had in high school. I’m currently in DECA, part of a tutoring club and have a part time job. What else should I do to help my chances of getting into Western Ivey?
I think those are 3 solid extracurriculars. I would just focus on getting your grades high at this point. I think I did DECA, student council, and... piano... or some church thing maybe.
Did U get in?
@@deg9159 yes LOL
@@deg9159yeah i wanna know too
Hey Matt, I am 16 years old and currently in mu second last year of school. I shall be applying to universities very soon and I have decided that I want to be an analyst or a trader for a bank or a private firm. However, I have a lot of questions about this career and want to sort them out before applying. I was hoping I could ask you about them as you have a lot of experience. Is there any way I can get in contact?
You can ask here!
@@PeakFrameworks Ah that's great. I know you have covered the working hours but I am a still a little unclear about it. Typically, i know analysts and traders work very long hours but how much do you think they work as new comers on average per week? And is it worth trading alot of your time for money? I've also seen alot people mention different sort of traders such as quants, macro traders etc. I wanted to know their demand. I am aware that quants are becoming increasing popular but what about manual traders as that is what I am interested in. Plus do you think there is a big difference in working for a hedge fund or bank or are they more or less the same? Lastly, I don't know if you've already made a video on this but I also want to hear your story working in this particular sector.
@@shubhramohansingh1543 Bankers work on average 80 hrs a week, even as summer analysts. It has great exit opportunities and you learn a lot in a fast paced environment. Might be worth it depending on your career goals.
How is RBC's international reputation? I was just invited for a superday for their captial markets team. I'm a junior at UofT.
It's OK, but it's getting better. They do a lot of lending for PE deals. In Toronto, I'd say that RBC is very likely the best of the Big 5. I know a lot of people who started in RBC Toronto and transferred to great shops in NY.
Thank you very much for this content! I have an interview with RBC Real Estate Capital Partners in London coming up soon but I can’t find much news on their deals and any other relevant information, would you be able to give me some advice? Any guidance would be really appreciated!
Video for networking in covid era.
me also unsure
These are in my opinion really bogus questions. When I got interviewed at one of the firms I simply said, all top firms are similar, and I just want to work for the best and be the best, and I have no specific reason why this one. I am so glad they stopped asking ridiculous questions such as strength and weaknesses or asking for references. All the questioned mentioned are simply useless. If they want to get to know you they should just ask two types of questions, technical, and have a chat on personal life. Nothing else. Then you cannot even make up lies because it will show.
That... is an interesting perspective. I think most investment banking and private equity firms are still going to ask a couple of qualitative personality questions. I would be kind of shocked if someone said they had no specific reason why the wanted to work at the firm I was interviewing them for.
I think this video (though it is quality I'm sure) proves beyond doubt that this interview question is largely a waste of time. Candidates answer this question with whatever they believe you want to hear - absolutely not what the truth is (which is most likely they don't really care which bank they work for, they just want to work in banking and make lots of cash). If you want to find out whether they have researched the company then ask them something about the company. This game we seem to have forgotten we're even playing is *pointless*
Rbc
This is incomplete advice. Your “why work here” does need to tie directly to the firm’s revenue drivers / goals, but you have to tie that reason to why that is important to you.
Example -
Q: why you wanna work here?
A: “So...during my first internship I worked at a very large and established company (say Halliburton) in corporate finance. I loved being at a company with such a dominant market position because it gave us a lot of firepower to make big investments and exposed me to great projects. The problem was we were slow. Because we were so established we were sometimes more scared of losing market share than expanding. What I like about RBC is how you’ve managed to bridge the gap between being a dominant player and having that almost start up mindset towards growing in new spaces. I want to be somewhere that is both strong and eager to get stronger, and there are few, if any, better examples than RBC”
A2: “something I’ve learned during my time in university is team dynamics are important. During my first semester at school, when I was eager to meet as many people as possible, I selected some teammates for projects that, while great people and still great friends, were not the best fit. I don’t find aggressive leadership and watch your back mentalities are the best way to create results. I prefer environments where everyone wins, or no one wins. What Ive learned about Goldman from those I’ve spoken to is you guys pride yourself on collaboration, trust and teamwork. That kind of attitude is lamentably rare on Wall Street and why I think Goldman’s culture is the best fit for me.”
Solid addition and example, totally agree!
no offense but picking TMT at GS is such an unrealistic example for 99.99999999999999999% of the people watching.
Is it that difficult?
@@harshalp8520 one of the hottest desks on Wall Street.
questions like why this firm is one of dumbest questinn ever that only m&a people would ask. As a trader, we never ask candidates that question. This question does not have objective answer bc its soley based on ones experience, and perception, therefore its subjective answer where we cant evaluate quatitatively.